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Price and trend forecast of MTNL for Tomorrow, Weekly, Monthly

Mahanagar Telephone Nigam Limited

Symbol: NSE:MTNL

ISIN: INE153A01019

83.87

As on 2024-07-23

19.35 (52W Low) 83.87 (52W High)

MTNL's Today's Performance

Mahanagar Telephone Nigam Limited started the day by opening at 80.79 today 2024-07-23. Its shares reached a high of 83.87 and dipped to a low of 70.25 in intraday. When the markets closed, MTNL’s stock price settled at ₹83.87 per share. Also check out its key support and resistance levels.

MTNL Buy/Sell Targets

Tomorrow, buy MTNL when its price reaches ₹ 83.87 with a stop-loss order at ₹ 79.78. You can set the target price as ₹ 87.96 to capture potential gains. This buy position balances the risks and rewards evenly, aiming for a 1:1 risk-reward ratio.

In the sections below, we will discuss detailed share price target of MTNL for tomorrow's session along with weekly levels. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.

Important Down levels for MTNL

Downside Targets Value in ₹
Tomorrow Down Target 1 88
Tomorrow Down Target 2 93
Tomorrow Down Target 3 102

Important Levels for MTNL

Holding Levels Value in ₹
Tomorrow Up Target 1 75
Tomorrow Up Target 2 66
Tomorrow Up Target 3 61
Based on where the stock opens tomorrow, if MTNL opens on a positive note, our first target will be ₹88. If Target 1 is achieved, we will aim for Target 2 which is ₹93.

But if MTNL falls below the average value of ₹79.33, you can enter a sell side position with target number 1 - ₹75 and second target - ₹66 This average value also act as support and resistance level. When the stock is trading above the average, it will act like support area. Another important thing is, stocks usually get back to this average value when the price trades too far from avg. In simpler words we can consider the average price as a magnet.

Daily Volume chart of MTNL

Looking at MTNL, we've seen a Increasing trend in its trading volume over the past week, which really tells us how active traders have been with this stock.

In terms of its price, MTNL has been on a Upward path, giving us insights how its value changes in the market.

Based on this, the predicted sentiment for MTNL is strong bullish.

Tomorrow's Volume based share price Forecast for MTNL

MTNL's Volume is currently in a Increasing trend, and Price is in a Upward direction. Therefore, we can say the stock is in a strong bullish trend. Volume trend strength over the last month compared to the last week is 29%.

Reversal detection for MTNL

Predicted trend chart of MTNL tomorrow for price forecast
MTNL may reverse its trend from upside (Short term bearish outlook) and we can get target of ₹74 in morning tomorrow
Target 1 tomorrow85
Target 2 tomorrow88
Target 3 tomorrow93
 

Investferry’s trend analysis method detects short term overbought and oversold situations to identify reversal in stocks. Use this as reference for short term counter trend trades.

Combine this trend forecast with MTNL's tomorrow's target prediction and you will have a base for what can be done in the upcoming trading session.

Based on where the stock opens tomorrow, if MTNL opens on a positive note, our first target will be ₹88.41. If Target 1 is achieved, we will aim for Target 2 which is ₹92.95.

But if MTNL falls below the average value of ₹79.33, you can enter a sell side position with target number 1 - ₹74.79 and second target - ₹65.71

MTNL's Weekly Targets
1st Up Target 88.41
2nd Up Target 92.95
1st Down Target 74.79
2nd Down Target 65.71

As the week for MTNL ended on bullish sentiments, we can expect further continuation of this sentiment. MTNL's initial target will be 88.41 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 74.79 in the upcoming week.

Weekly OHLC Values
Open 70.48
High 83.87
Low 70.25
Close 83.87

Week for MTNL started with an open price of 70.48, and the close was at 83.87. MTNL reached the highest of 83.87 and dipped lowest up to 70.25 last week. This indicates a bullish sentiment for the week.

MTNL full month swing targets
Monthly Up Target 1 102.03
Monthly Up Target 2 106.57
Monthly Down Target 1 61.17
Monthly Down Target 2 38.47

Targets of ₹102.03 can be expected to be reached in the coming month. Once MTNL achieved this target, we can aim for the next upside target of ₹106.57.

MTNL if fails to hold upside, down targets of ₹61.17 and ₹38.47 can be achieved by end of this month.

For complete three weeks if MTNL is bullish, the stock may decline in the last week on the month as traders usually close their positions. So in this case, you should aim for weekly support level which will act as targets here.

Related Stocks in the Same Sector as MTNL

Symbol Name Industry
BHARTIARTL Bharti Airtel Limited Telecom Services
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NAUKRI Info Edge (India) Limited Internet Content & Information
IDEA Vodafone Idea Limited Telecom Services
TATACOMM Tata Communications Limited Telecom Services

Summary

MTNL is expected to reach the target of 88.41 in tomorrow's trading session.

After achieving the initial target in MTNL, we will aim for higher targets of 92.95 tomorrow.

However, if MTNL starts to trade below ₹79.33, then we will shift our focus to the sell side and aim for down targets of 74.79 and 65.71.